Japan's Sharp considering $1.4b public offering: Report

A man looks at Sharp Corp's Aquos television sets displayed at an electronics store in Tokyo on Dec 4, 2012. Sharp is considering making a public share offering worth more than 100 billion yen (S$1.4 billion) early this year, a report said on Tuesday. -- PHOTO: REUTERS

TOKYO (AFP) - Embattled Japanese electronics firm Sharp is considering making a public share offering worth more than 100 billion yen (S$1.4 billion) early this year, a report said on Tuesday.

The public offering could take place in the spring with the firm hoping to use the funds to strengthen its mainstay liquid crystal display (LCD) business and improve its creditworthiness, the Yomiuri Shimbun newspaper said.

Sharp has started talks with major creditor banks and wants to include the capital increase scheme in a mid-term business plan to be announced as early as February, the mass-circulation daily said without naming its sources.

The cash-strapped company said in December it had struck a 9.9 billion yen capital injection deal with US-based chipmaker Qualcomm as it moves to repair its tattered balance sheet.